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UPS Negotiations Update: Company and Central States Reach Tentative Agreement
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<blockquote data-quote="705red" data-source="post: 227976" data-attributes="member: 5229"><p>Cezanne first of all i am not a tdu supporter! I would be if they would preach the good within the teamsters instead of only the negatives!</p><p> </p><p>We in 705 are under a seperate multi-employer fund that is around 80% funded. We (UPSERS) also receive a retirement bonus of $1,000 per year lump sum (30 years = $30,000) or 108 per year towards our monthly pension ( 30 yr = $3,340 per month). All other participants are not entitled to this extra payout or pension increase.</p><p> </p><p>Im not in cs and that decision will be upto those of you when the time comes. The problems i do have with the single-employer pensions are, what happens if you leave ups and need say 5 years for your pension? Where can you go to receive that credit? Nowhere! What happens when the day comes and ups is not the big dog anymore and only 50,000 are paying into a fund that has 700,000 drawing from it? If a single employer is more sound then why do the 2 other funds (new york n new jersey) have the same problems as cs?</p><p> </p><p>Just a concerned upser sitting on the sidelined trying to take it all in and asking some of the hard questions, trying to assist your cs'ers in making an informed decision.</p></blockquote><p></p>
[QUOTE="705red, post: 227976, member: 5229"] Cezanne first of all i am not a tdu supporter! I would be if they would preach the good within the teamsters instead of only the negatives! We in 705 are under a seperate multi-employer fund that is around 80% funded. We (UPSERS) also receive a retirement bonus of $1,000 per year lump sum (30 years = $30,000) or 108 per year towards our monthly pension ( 30 yr = $3,340 per month). All other participants are not entitled to this extra payout or pension increase. Im not in cs and that decision will be upto those of you when the time comes. The problems i do have with the single-employer pensions are, what happens if you leave ups and need say 5 years for your pension? Where can you go to receive that credit? Nowhere! What happens when the day comes and ups is not the big dog anymore and only 50,000 are paying into a fund that has 700,000 drawing from it? If a single employer is more sound then why do the 2 other funds (new york n new jersey) have the same problems as cs? Just a concerned upser sitting on the sidelined trying to take it all in and asking some of the hard questions, trying to assist your cs'ers in making an informed decision. [/QUOTE]
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UPS Negotiations Update: Company and Central States Reach Tentative Agreement
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